“If someone can be going to use medical services and also also also features a $1,000 deductible, which will be $1,000 out of their pocket,” Foster said. “Generally, which’s best to make sure your FSA contributions at least align with the deductible on your insurance plan.”
FSA dollars can be used to cover a broad range of costs. In addition to your deductible and also also also over-the-counter health items, you generally can use the money for copays, coinsurance and also also also prescription drugs and also also also supplies.
As you go through the year, be aware of those qualifying expenses and also also also make sure you use your FSA funds to pay for them. and also also also when your company holds its next open enrollment, evaluate whether you need to adjust your pretax withholding for 2019.
“With proper planning, an FSA can be a actually not bad tool in helping you manage your health care expenses within the following year, especially if you know you’ll have ongoing medical expenses,” Foster said.
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